Back to the complete issue
Sunday, 19 September 2021

EFG Hermes subsidiary to list securitized bonds on EGX next week

Two tranches of a securitized bond issuance by EFG Hermes’ Financial Group For Securitization worth EGP 211 mn will begin trading on the EGX on 21 September, the financial services firm announced (pdf) Thursday. The firm will list 2.1 mn in 10-month bonds with a par value of EGP 100 after getting EGX approval.

About the issuance: The 1.89 mn of tranche A bonds will pay a yield of 9.5% with the first installment to be paid after four months and subsequent installments every three months. The 211k tranche B bonds will carry a fixed annual rate of 10.76%, with installments to be paid according to the same timeline. Both tranches mature on 26 May 2022. The Arab African International Bank acted as underwriter for the listing.

No more than 90% of the bonds will be offered to institutional investors, while 10% will be reserved for retail investors, as per the Financial Regulatory Authority's regulations.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.